A serious thread , for a serious business, page-17

to answer the other question people have posted. YES bluebet uses Betmakers services

https://www.asx.com.au/asxpdf/20201022/pdf/44nytmrghtrmq3.pdf - see slide 4.

however obviously not the betting platform solution but one or more of their other operating services (i don't believe the granular details would exist publicly a client level)

from my understanding how betmakers revenue works would assume they are being paid by bluebet for services provided i.e fixed fee and not the variable revenue model they talk about on page 5 of the sames slides as they say "the key contributors to this shift are our products such as content distribution (i.e global racing network), white label platform offerings and managed trading services"
white label platform offering is essentially the front end (website offering to customers) as i understand it and the managed trading services the backend to control their risk/bets. and I would think that as bluebet have their own front end they would probably have their own back end but uses some of betmakers other services for a fixed fee.

in other words any IPO listing of bluebet and even if that included large revenue and or revenue increase for bluebet as result of spending $$ on big marketing campaign and bonus bets more than likely would not have any material impact on betmakers revenue bottom line at all.

happy to be corrected.